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Independent-demand inventories are influenced primarily by customer demand rather than the production schedules of related items. They can be managed through various methods, including just-in-time (JIT) inventory systems, safety stock calculations, and demand forecasting techniques. Additionally, businesses may use reorder point calculations and economic order quantity (EOQ) models to optimize inventory levels and minimize holding costs. Effective management of independent-demand inventories is crucial for ensuring product availability while controlling costs.
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What are Examples of independent goods?
a person's demand of nails is independent of his ore her demand for bread... :D i think so this example is best you will not get it anywhere else.
Define lean logic?
Lean logic is defined as activities that are designed to reach high volume production while using the least possible in work in progress, raw material inventories, and finished goods. Internal demand or customer demand triggers production in lean logic.
What is the difference between derived demand and absolute demand?
Derived demand refers to the demand for a good or service that results from the demand for another good or service, typically in a production context. For example, the demand for steel is derived from the demand for automobiles, as steel is a necessary input in their production. In contrast, absolute demand refers to the total demand for a product or service in the market, independent of the demand for other goods. Essentially, derived demand is contingent on the demand for related products, while absolute demand stands alone.
Why is it that any accumulation of inventories by firms is not included when measuring GDP?
It does not included because it might be a recounting and because accumulation of inventories by firms might be seen as private investment.
What is an increase in the investment demand curve?
The interest rate is the thing that primarily affects the investment demand curve and an increase in investment indicates a decrease in real interest rate. This makes sense because it is better for borrowers to pay a lower interest rate. Also, better technology can cause the investment demand curve to shift out, also high inventories. If interest rates are expected to be higher in the future, firms will choose to invest now and the lowering of business taxes will result in the investment demand curve to shift outwards.
What is the difference between independent-demand inventories and dependent-demand inventories?
An independent demand is a demand that is not based on the demand for another item while a dependent demand is based on the demand for another item. For example, the demand for chairs of a table and the table itself is based on the demand for the table. The table in this example is the item with independent demand. Knowing this, one can forecast an independent demand while dependent demands are calculated based on the independent demand item. Business to business independent demands tend to be demands for such items as capital goods, office supplies, MRO (maintenance, repair, and operating) items, and anything else for which the dependency is unknown. Independent demands are usually handled with standalone purchase orders, although some items might be covered by contractual relationships such as volume, price and other agreements.
What are the types of demand?
interrelated demand joint/complement demand competitive derived composite independent
What are Examples of independent goods?
a person's demand of nails is independent of his ore her demand for bread... :D i think so this example is best you will not get it anywhere else.
How do people keep home inventories?
There are many ways in which an individual can keep home inventories. Many phones have applications in which it makes it easy to take inventory. Also, many people like to write it down on paper.
Benefits and cost of holding Inventories?
what is benefits of holding inventories
What are the types of demand according to managerial economics?
1-interrelated demand 2-joint demand 3-competetive demand 4-derived 5-composite 6-independent
In what ways did the Great Awakening contribute to the independent spirit of American colonists?
In what ways did the Great Awakening contribute to the independent spirit of American colonists?
What is the plural possessive of the word inventory?
The plural is inventories. The plural possessive is inventories'.
What are dormant inventories?
The costs of dormant inventories--goods not immediately convertible into cash
What is the meaning dependent and independent in demand forecast?
In demand forecasting, "independent demand" refers to the demand for finished goods that is not influenced by the demand for other products, typically driven by external market conditions or customer needs. In contrast, "dependent demand" is derived from the demand for related items, such as components or raw materials needed to produce the finished goods. Understanding the distinction helps businesses accurately predict inventory needs and manage production schedules.
Supplier induced demand?
Supplier induced demand is demand that is forced by suppliers into the market. One of the ways of inducing demand is through promotional offers and incentives.
When did canada become a independent country?
Are they? In many ways Canada is far from independent. Defense is one.
